Rigaku Holdings Corporation · TSE:268A
Rigaku — Q1 2026 Earnings Presentation
50 slides from Rigaku's earnings presentation, May 13, 2026
Slide 1: FY26 1Q Earnings Presentation (Revised Version)
【Revised Version】 FY26 1Q Earnings Presentation Rigaku Holdings Corporation May 13, 2026
Slide 2: Revision Notice
Revision Notice We would like to inform the following revisions on the “FY26 1Q Earnings Presentation” disclosed on May 13, 2026, which are as follows: １． “Consolidated Quarterly Financial Results” on Page 31 Revised the FY25 2Q and 3Q Basic EPS (JPY) FY25 2Q Incorrect: 8.19 → Correct: 8.23 FY25 3Q
Slide 3: FY26 1Q Earnings Presentation
FY26 1Q Earnings Presentation Rigaku Holdings Corporation May 13, 2026
Slide 4: Disclaimer
Disclaimer This material has been prepared solely for the purpose of providing relevant information regarding Rigaku Holdings Corporation (“Rigaku” or the “Company”) and does not constitute an offer to sell or the solicitation of an offer to buy any security in the United States, Japan or any other
Slide 5: Agenda
Agenda １． Capital and Business Alliance with Onto Innovation ２． Middle East Situation and Business Impact ３． FY26 1Q Consolidated Financial Results ４． Multipurpose Analytical Instruments Business Update ５． Semiconductor Process Control Instruments Business Update ６． FY26 Earnings Forecast Copyright
Slide 6: Capital and Business Alliance with Onto Innovation
Capital and Business Alliance with Onto Innovation Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 7: Onto Innovation's Equity Investment in Rigaku and Capital and Business Alliance Agreement
Onto Innovation’s Equity Investment in Rigaku and Capital and Business Alliance Agreement ◼ As part of the Capital and Business Alliance Agreement, Onto Innovation Inc. (“Onto Innovation”) has agreed to acquire a portion of Rigaku’s shares from Atom Investment, L.P., a major shareholder of Rigaku Eq
Slide 8: Key Initiatives of Capital and Business Alliance
Key Initiatives of Capital and Business Alliance 1 Establishing “Hybrid Metrology Solution” by Combining Complementary X -ray and Optical Technologies ❑ Enhancing measurement capabilities for advanced logic and memory devices through the integration of high - precision X -ray and high -speed / high
Slide 9: Middle East Situation and Business Impact
Middle East Situation and Business Impact Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 10: Middle East Situation and Business Impact
Middle East Situation and Business Impact ◼ No material direct impact on business at this stage , while situation will continue to be closely monitored with measures to address rising costs and secure inventory ⚫ Impact from the Middle East as a product market destination is minimal ⚫ No issues with
Slide 11: FY26 1Q Consolidated Financial Results
FY26 1Q Consolidated Financial Results Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 12: Highlights of FY26 1Q Consolidated Financial Results
Highlights of FY26 1Q Consolidated Financial Results ◼ Despite a transitional quarter as expected, results have exceeded expectations, driven by solid performance of semiconductor process control instruments ◼ Pipeline remains steady (+11% YoY) and near -term order forecast is solid, providing stron
Slide 13: Quarterly Revenue Trend by Category
Quarterly Revenue Trend by Category ◼ 1Q revenue exceeded expectations ◼ Currently, strong demand from memory and logic customers in the Semiconductor Process Control Instruments business, along with new product launches in the Multipurpose Analytical Instruments business, are supporting steady prog
Slide 14: FY26 1Q Consolidated Financial Results Summary (YoY)
FY26 1Q Consolidated Financial Results Summary (YoY） FY25 1Q FY26 1Q YoY Change (JPY Bn) ◼ Revenue and operating profit Revenue 20.6 17.9 -13.0 ％ both exceeded expectations, driven by semiconductor Operating Profit 2.8 0.6 -77.8 ％ process control equipment Operating Profit Margin(%) 13.8% 3.5% -10.2
Slide 15: FY26 1Q Performance Summary by Category
FY26 1Q Performance Summary by Category Semiconductor Process Control Multipurpose Analytical Instruments Instruments Components and Services （ JPY Bn ） FY25 1Q FY26 1Q YoY FY25 1Q FY26 1Q YoY FY25 1Q FY26 1Q YoY Revenue 9.2 6.6 -27.7% 6.1 5.3 -13.1% 5.1 5.8 +13.2% Operating 1.2 -0.2 N/A 1.6 0.5 -64
Slide 16: Multipurpose Analytical Instruments Business Update
Multipurpose Analytical Instruments Business Update Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 17: Expanding Applications of Pillar 3 Products
Expanding Applications of Pillar 3 Products ◼ Shift in Market Environment: Transition towards 300mm wafers in compound semiconductors ( SiC ), rising demand for 300mm silicon wafers (DRAM) and accelerated development of new materials such as GaN ◼ Expanding product lineup from R&D (Lab) to mass prod
Slide 18: Rollout of Strategic Products for Industrial Markets
Rollout of Strategic Products for Industrial Markets Physical properties Material synthesis Autonomous cycle AI/ML optimization Qualana (μEDX Solutions) LabLinc Studio CT Lab HR160 CT Lab HV ◼ Trace micro-area elemental ◼ Closed-loop R&D system linking ◼ Strengthening the industrial CT analysis for
Slide 19: Semiconductor Process Control Instruments Business Update
Semiconductor Process Control Instruments Business Update Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 20: New Product Roadmap
New Product Roadmap ◼ Timely launch of new products targeting Next -Generation Semiconductor development and mass production Market and ◼ Targeting over 50% share of an estimated ~US$1.0 billion SAM for new products Objectives ◼ 2030 revenue target of approx. JPY 100 billion including existing produ
Slide 21: Accelerating Development by Leveraging Global Research Institutions
Accelerating Development by Leveraging Global Research Institutions ◼ Delivering high -value metrology solutions to meet next -generation semiconductor needs Advanced Logic Advanced Memory (3D DRAM) Metrology/Inspection technology for CFET Evaluation of 3D nano shape for 3DDRAM N-gate Hard mask P-ga
Slide 22: Rigaku's Vision for Technological Innovation: Hybrid Metrology
Rigaku’s Vision for Technological Innovation: Hybrid Metrology ◼ Hybrid Metrology: Leveraging complementary metrology methods to deliver high precision and efficiency ▪ High -precision metrology based on X -ray OCD (1) ・ ▪ High Throughput wavelengths (10 ⁻¹ ⁰ m) X-Ray SEM ・ ▪ Metrology optimized for
Slide 23: FY26 Earnings Forecast
FY26 Earnings Forecast Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 24: FY26 Consolidated Earnings Forecast - Unchanged
FY26 Consolidated Earnings Forecast - Unchanged Overall ◼ Revenue expected to grow effectively by +9% (3) , in line with the mid -term management plan. Strategy FY25 FY26 (2) YoY remains unchanged (JPY Bn) ◼ Strategy to improve EBITDA / OP / Profit margin by Revenue 94.1 101.0 +7.2 ％ expanding GP ma
Slide 25: Conclusion
Conclusion ◼ 1Q results exceeded expectations • Captured increased demand in memory and logic in the semiconductor process control instrument business • Full -year outlook unchanged: closely monitoring recovery timing in the multipurpose analytical instruments business and the impact of the Middle E
Slide 26: Appendix
Appendix Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 27: Onto Innovation Inc. Overview
Onto Innovation Inc. Overview ◼ US -based leading provider of process control solutions for semiconductor industry ◼ Offering optical metrology, defect inspection, and advanced analytics software, leveraging its optical technologies Company Overview Key Products / Solutions Company Name Onto Innovat
Slide 28: FY26 1Q Analysis of Consolidated Operating Profit (YoY)
FY26 1Q Analysis of Consolidated Operating Profit（YoY） Operating Profit Margin 3.5% (down by 10.2% YoY) • Gross profit margin declined mainly due to higher delivery and material costs in the semiconductor business • Lower sales and ongoing strategic investment has driven higher R&D and SG&A ratios (
Slide 29: FY26 1Q Performance Summary by Category (by Region)
FY26 1Q Performance Summary by Category（by Region) Semiconductor Process Control Multipurpose Analytical Instruments Instruments Components and Services （ JPY Bn ） FY25 1Q FY26 1Q YoY FY25 1Q FY26 1Q YoY FY25 1Q FY26 1Q YoY Revenue 9.2 6.6 -27.7% 6.1 5.3 -13.1% 5.1 5.8 +13.2% Operating 1.2 -0.2 N/A
Slide 30: Operating Profit Analysis: FY25 Actual vs. FY26 Forecast
Operating Profit Analysis: FY25 Actual vs. FY26 Forecast GM％ +2.2pt SG&A and Others -0.7pt +2.3%(1) +0.7% 19.3% +0.6% 17.7% -1.4% ‐0.6% FY25 Increased Increased COGS Pricing/Product SG&A (incl. R&D) FX Losses FY26 Actual Semiconductor Mix Forecast Revenue Improved overall Volume growth and profitabi
Slide 31: Profit & Loss by Product (Management Accounting Basis)
Profit & Loss by Product (Management Accounting Basis)(1) FY25 FY26 Est. (10億円)/(JPY Bn) 1Q 2Q 3Q 4Q Full-year 1Q 2Q 3Q 4Q Full-year 多目的分析機器/Multipurpose Analytical Instruments 売上収益/Revenue 9.2 8.9 8.3 13.9 40.4 6.6 - - - 41.5 営業利益/Operating Profit 1.2 1.3 0.4 3.1 6.2 -0.2 - - - 6.2 営業利益率/Operating
Slide 32: Revenue Breakdown by Region and End-Market
Revenue Breakdown by Region and End-Market Revenue by Region Revenue by End -Market FY25 FY26 (10億円)/(JPY Bn) 1Q 2Q 3Q 4Q Full-year 1Q 2Q 3Q 4Q Full-year 半導体・電子部品/ 7.7 6.1 4.9 14.3 33.3 6.0 - - - - Semiconductor/Electronic Components ライフサイエンス/Life Science 0.9 0.8 1.3 1.9 5.0 0.8 - - - - その他産業/Other
Slide 33: Consolidated Quarterly Financial Results
Consolidated Quarterly Financial Results FY2025 FY2026 予想 (10億円)/(JPY Bn) 1Q 2Q 3Q 4Q Full-year 1Q 2Q 3Q 4Q Full-year Full-year 売上収益/Revenue 20.6 20.1 18.7 34.6 94.1 17.9 - - - - 101.0 売上総利益(1)/Gross Profit(1) 11.5 11.1 9.7 20.4 52.8 9.7 - - - - 58.9 営業利益/Operating Profit 2.8 2.8 0.8 10.1 16.7 0.6 -
Slide 34: FY26 1Q Consolidated B/S & Cash Flow
FY26 1Q Consolidated B/S & Cash Flow B/S Cash Flow (10億円)/(JPY Bn) FY25 Year-end FY26 1Q Changes FY25 1Q FY26 1Q Changes (10億円)/(JPY Bn) 流動資産/Current Assets 76.2 73.2 -3.0 営業キャッシュ・フロー/Operating Cash-Flow 1.1 2.2 1.1 現預金/Cash and Cash Equivalents 24.2 25.6 1.4 投資キャッシュ・フロー/Investing Cash-Flow -0.6 -1.
Slide 35: Reconciliation of Adjusted Items (1/2)
Reconciliation of Adjusted Items (1/2) (10億円)/(JPY Bn) FY25 FY26 予想 EBITDA 1Q 2Q 3Q 4Q Full-year 1Q 2Q 3Q 4Q Full-year 税引前利益/Profit Before Taxes 2.7 2.7 0.6 9.8 15.9 0.4 - - - 18.4 減価償却費及び償却費/Depreciation and Amortization 1.2 1.2 1.3 1.3 5.1 1.4 - - - 5.8 支払利息/Interest Expenses 0.2 0.2 0.2 0.3 1.1 0
Slide 36: Reconciliation of Adjusted Items (2/2)
Reconciliation of Adjusted Items (2/2) (10億円)/(JPY Bn) FY25 FY2026 予想 調整後営業利益/Adjusted Operating Profit 1Q 2Q 3Q 4Q Full-year 1Q 2Q 3Q 4Q Full-year 営業利益/Operating Profit 2.8 2.8 0.8 10.1 16.7 0.6 - - - 19.4 PPA償却費/PPA Amortization 0.5 0.5 0.5 0.5 2.0 0.5 - - - 2.1 コンサルティング・フィー/Business Consulting Fe
Slide 37: Rigaku at a Glance
Rigaku at a Glance Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 38: Company Highlights
Company Highlights Company at a Glance Operating Platform for Diversified End Markets (2025/12) ◼ A global leader in advanced X-ray technology with 75 years of innovation Revenue (Outer) and history Operating Profit (Inner) by ◼ Achieving industry leading profitability through strong R&D capabilitie
Slide 39: Rigaku's Competitive Edge
Rigaku’s Competitive Edge ◼ Rigaku’s core competitive edge lies in its integrated business model, under which the company manufactures its core components in-house — enabling to create high value-added products, strong customer trust leading to a high retention rate among top-tier industry players I
Slide 40: Seeing the Unseen: Rigaku's X-Ray Solutions
Seeing the Unseen: Rigaku’s X-Ray Solutions ◼ Rigaku Established Metrology Solutions for Diverse Analytical Needs Amid the Increasing Inspection / Metrology Needs in Miniature Space 1mm 700nm 400nm 10nm 1Å Battery Structure Fiber / Polymer Protein Semi Crystal Molecule Atom X-ray Metrology X-ray Dif
Slide 41: Key Products by End Market (Multipurpose Analytical Instruments)
Key Products by End Market（Multipurpose Analytical Instruments） 〈 Batteries 〉 ◼ Academia/Government ◼ Semiconductor/Electronic Components Crystal structure and nanostructure analysis Basic Research & Materials Analysis 〈 Semiconductor 〉 ✓ X-ray diffraction (XRD) ✓ X-Ray Diffraction （ XRD） ✓ X-ray fl
Slide 42: Key Products Across the Semiconductor Manufacturing Process
Key Products Across the Semiconductor Manufacturing Process ◼ Rigaku’s Products Offer Advanced Inspection / Metrology Solutions Essential for Manufacturing Cutting-edge Semiconductors Thin Film / Resist Thickness Measurement Surface Contamination Inspection XTRAIA XD-3300 ONYX 3200 WaferX 310 XTRAIA
Slide 43: Rigaku's Long-Term Strategy: Three Pillars of Growth
Rigaku’s Long-Term Strategy: Three Pillars of Growth ◼ Establish Solutions to Meet the Cutting-edge Inspection / Metrology Demands for Each Application, and Aim for Medium to Long-term Growth Through the Promotion of the "Lab to Fab" Strategy Driving the “Lab to Fab” Business Expanding Deployment of
Slide 44: Inspection / Metrology Needs from the Advanced Semiconductor Manufacturing
Inspection / Metrology Needs from the Advanced Semiconductor Manufacturing ◼ The Semiconductor Manufacturing Process is Reaching a Turning Point due to Miniaturization and Multi-layered Materials, Making High-precision Inspection / Metrology Technologies Increasingly Irreplaceable Semiconductor Tech
Slide 45: Mid-Term Value Creation Plan
Mid-Term Value Creation Plan ◼ Target revenue CAGR of Approx. 10% driven by a strong growth in Semiconductor Process Control Instruments Overall Medium-term Goals (Company-wide) Revenue Growth Target by Product Category (JPY Bn) Medium-term 46.5～48.5 CAGR Plan Base Year 2025/12 2026/12 35.8 (2023~20
Slide 46: Glossary
Glossary Copyright 2026 Rigaku Holdings Corporation & its Global Subsidiaries
Slide 47: Glossary (1/3)
Glossary (1/3) Terms Description • Advanced X -Ray Inspections is a non -destructive and automated method that uses X -rays to inspect internal defects (such as voids, cracks, AXI and misalignments) in electronic components, semiconductors, and industrial products • Complementary FET (CFET) is a nex
Slide 48: Glossary (2/3)
Glossary (2/3) Terms Description • An advanced X -ray analysis device offering high -precision micro and wide -area mapping without positional deviation. It sensitive ly detects Qualana even light elements and, with Rigaku’s proprietary FP program, supports flexible quantitative thin -film analysis
Slide 49: Glossary (3/3)
Glossary (3/3) Terms Description • X-Ray Fluorescence (XRF) -a technique for qualitative and quantitative analysis of elements using fluorescent X -rays, which are generated XRF (Fluorescence ) when a substance is irradiated with X -rays. It is broadly classified into wavelength dispersive (WDX) typ
Slide 50: Disclaimer
Disclaimer This presentation contains forward-looking statements, plans, and strategies based on information available and judgments made by the Company at the time of preparation. These statements involve risks and uncertainties, and actual results may differ materially due to various factors such